Friday, September 23, 2011

The Lyin' King, Starring Barack Obama

Anyone who believes a plumber pays more in taxes than a billionaire is probably also dumb enough to vote for Barack Obama.

It's going to get worse before it gets better...

Even Obama's people are saying unemployment will not go down before the 2012 election, and I believe them. Removing $1.5 trillion from the economy is not the way to grow jobs. That's according to Reaganomics as well as John Maynard Keynes. The president is economically illiterate and his policies are an incoherent clash of careening desperation and overheated class warfare populism, all fueled by crony crapitalism.

Obama Will Run in 2012

Don't believe the speculation that Obama may go quietly into that good night and make way for another Dem candidate. He's young and America is not yet completely broken.

President Obama is an effete liberal metrosexual who's "down with the struggle" community organizer persona is just a pose. He's never been in a fight in his entire life, other than the time he and his gay Muslim "porn 'stash" roomate both discovered a roach under the sofa cushion, and the room broke out into a cocaine-frenzied pillow fight.

Regardless, he ain't giving up his current gig without a global-billionaire-funded fight (where others do the dirty work.)

But anyway... Greece will default, and who's in and who's out of the Eurozone won't really matter; Germany will end up on top... It's gonna be ugly.

We here in the US will continue sliding sideways, but I think we'll come out OK, even after the ten years or so of misery and chaos we are facing. For the most part, we still know how to take care of ourselves, our kinfolk and our neighbors; Those who do not should probably partner up with that Spanish-speaking family down the street. Where they came from, you had to have some basic survival skills or you'd end up dead.

Our fundamentals are better than Europe's, and I really do remain optimistic that no matter how bad it gets, riots and all the rest, we will make it through, if only because North America (thanks in no small part to Canada) will remain fertile ground for capital, especially when compared to the rest of the world.

China?

Are you kidding? Their one-child policy has made China a dead man walking. And the men not dying will not be able to find a woman, because the poor little commies aborted way more little girls than little boys.

Their environment is a nightmarish catastrophe bubbling just below the surface. Hundreds of millions are still mired in poverty. Smaller countries chafe at their role as The Middle Kingdom's slave state, while other nations find ways to undercut them with cheaper labor, just as China did to the developed world. China will get old before it gets rich.

The Collapse Won't be Pretty

The Chinese Communist Politburo still nurtures the illusion that they can ride the beast, doling out freedom with an eyedropper. Good luck with that. Gorbachev thought he could just crack the door open, and next thing he knew, freedom's hordes were storming the breach. His Eastern European clients were hanging from lamp posts while Boris Yeltsen was blasting the walls of Parliament with hijacked tanks. It's folly. Once human beings get a whiff of liberty, it's all over.

China's Totalitarian-Capitalism chemistry set will blow up. And it won't be a little ka-boom, it will be a roaring fireball seen and heard around the world.

Forget investing in the stock market. Put your faith in God and your money in gold and lead.

43 comments:

He's never been in a fight in his entire life, other than the time he and his gay Muslim "porn 'stash" roommate both discovered a roach under the sofa cushion, and the room broke out into a cocaine-frenzied pillow fight.

Throwing the U.S. stock market under the bus is not the way to go. Commodities can be manipulated much more than equity markets (although both are admittedly subject to skullduggery on occasion). See the movie 'Trading Places' with Eddie Murphy and Dan Ackroyd to see what I mean (Ralph Belamy and Don Ameche as the Duke Bros)

Your general optimism in the U.S. and our resilience to the ravages of global chaos should also extend to the equity markets.

Where else in the world are you going to park your money? The Euro? The Yuan? The Yen?

I know a few plumbers, Silver, and yes they pay higher rates than most billionaires. That's because we taxed earned income at a higher rate than capital gains.

And no one is talking about "Removing $1.5 trillion from the economy." You have to be economically illiterate to believe that is what Obama is suggesting. Raising taxes does not de facto equate "removing" money from the economy.

Investing in the gold bubble at this point is retarded, and horrible advice. China is not going to explode. Canada is a very small player in the world. The US is in serious trouble, but it's not the end for us either.

There's one good thing that could come of the impending disaster of returning the crooked, inept GOP, the people that caused the recession, mass unemployment, and the real estate collapse in the first place, back to power: They will sink the country so low that the American people will have no choice but to react by moving the country thoroughly and dramatically to the Left. That means finally making the idle, useless rich pay their fair share, ending "free" trade, and rebuilding the country that the irresponisble, anti-American, short-sighted, crooked, selfish GOP ignored for a generation and a half.

Silver, I'm pretty sure everyone on my side of the field have been pretty clear about how we tax earned income at a greater rate than unearned income.

Taxes do not "remove" money from the economy. Government spending is part of the economy. Free trade, illegal immigration, servicing foreign debt - these remove money from the economy. Taxes only do when they go to servicing foreign debt, which wouldn't be the case if we simply raised taxes to pay for things we need instead of relentlessly borrowing.

We aren't the ones who picked up the "40% pay no taxes" meme from Talent on Loan from Synthetic Morphine all the time knowing they are lying through their teeth.Or maybe the right doesn't know income tax is only one mode of taxation.

And please do not call me an Obama fanboy. I truly dislike the right of center DLC stooge. The only thing worse are the right wing fanatics who call this guy a socialist(LMAO).

Your example of the couple with a fully taxably million-dollar income from a "small business" is a myth.

After looking at the stats, you can easily see that raising the top marginal rate doesn't really effect the small business sector at all.

Most of the small business sector is off the radar anyway:

"About three quarters of all U.S. business firms have no payroll. Most are self-employed persons operating unincorporated businesses, and may or may not be the owner's principal source of income."

Three quarters. So, most of these "small businesses" are just unincorporated business ventures/tax loopholes/tax dodges/professional necessities/cash based/part time/small revenues/etc, etc, etc... SMALL BUSINESSES.

Surely you've lived in America long enough to know what your average small business is. It is not millionaire couples. The vast, VAST, majority of small businesses are working and middle class enterprises. Individual owner profits are nowhere near the millions. And even when they are, there are plenty of ways the tax codes give them a break. I know. I've done quite a bit of small business taxes.

So get real.

And marine guy and bd, you really didn't get the "stupid-er" joke? What? You guys never heard of friggin' alliteration??? Jesus Christ guys! Who am I arguing with??? Fifth grade dictionary nerds??? Sheesh. Can't even have a little fun with you two.

And remember, guys: Never think you're all that smart - let alone smarter than anyone else. Because if you get it wrong, it very well may come back to bite you. ;) If you guys argued like that with me in person, I'd rhetorically eat you alive.

No, Silver. I'm not talking about "tax(ing) our way to prosperity." All I'm saying is that we need to pay more of our bills now, and we can. No decent person likes raising taxes. But sometimes you have to do it.

And no. Dictators hate people like me. Because I'm not a recalcitrant any more than a sycophant. I think for myself - beyond ideology or idols.

This 35-year-old phony inflation war is really about keeping interest rates unrealistically low, and the funny thing about interest rates (like everything else in life) is they can and sometimes should go up. Just like taxes.

Now, in the case of a sole proprietor, he/she will look at their After Tax Profit and they may decide they need to put a certain amount aside for some needed capital improvements in their business. What is left of the After Tax Profits is what the proprietor and his/her family live on.

Corporations have many proprietors. They are called shareholders. When the representatives of all these proprietors, the elected board of Directors, looks at the proprietors After Tax Profit, they decided how much of the After Tax Profits the business needs to retain for later investment and the remainder of the After Tax Profit is distributed to all of the corporation's proprietors by what are call dividends. The difference with these proprietors is that the IRS says they want to tax these After Tax Profits again. The IRS calls it capital gains tax.

So, why are the multitude of proprietors of corporations treated differently from sole proprietors? The truth is that Warren Buffet shouldn't have to pay any taxes on his After Tax Profit.

I love it when Ducky reaches for some obscure twist on things when he's at a loss. Yes Ducky, Ronald Reagan did start out having to pay those high Jimmy Carter interest rates, but he brought them down. (yes, I know, it was Paul Volker, God bless him. Please spare us the lectures.)

The way I see it, it will make no difference if our economy picks up or not. It will make no difference if everybody has a job. None of that will matter one twit if we lose our Constitution, our rights and freedoms, and as long as we keep electing the folks that the two major parties and the MSM back, candidates who don't have even a second grader's level of understanding of the Constitution, candidates who will just keep on enacting laws, rules and regulations even if they are unconstitutional, candidates who insist on overlooking even the most massive violations of the Constitution, then nothing really matters.

Oh Pshaw! A week away -- having an uproariously good time at a posh resort in the Blue Ridge celebrating the Collective Seventieth Birthday of My High School Class while Wall Street imploded --, and I come back to find the same old dismal, entrenched robotic responses to a stimulating post.

Discouraging!

Almost as discouraging as the depressing performance put on by The Republican Gnomes at their deplorably dopey debates. PHEW!

Everyone trying to get the nomination looks bad, and smells worse.

However, even though Ron Paul may look, sound and gesture like an old maid in pants, he's still the only one in that sorry crowd who's telling the truth. [Why else do you think he's ignored by the "major" media and openly derided by FOX and the right wing radio pundits, who obviously get their marching orders from AIPAC?]

As for all the tommyrot about "fairness" in taxation, blah blah, blah, no one seems to realize that:

1. We don't really need the pretentious, farcical, welfare-statist garbage the government "gives" us in return for those taxes we pay. We need to implement a radical slash-and-burn policy there and STOP the @#$*?*&@!&*!%@#!"!~ MERRY-GO-ROUND.

2. We should never have gone so deeply into debt to finance the farce to begin with. We must pay it off, of course, but QUIT adding more. Just QUIT.

3. Instead of raving on about "the rich" paying less in capital gains taxes than "the poor" pay in ordinary income taxes, we ought to be out marching the mall with pitchforks, shovels, torches and musketry demanding that income taxes be lowered to the same level as capital gains taxes. Better yet, ALL taxes should be lowered to no more than 10%, and the ever-lovin' government should be FORCED to live within those means.

4. Also, we ought to DEMAND that capital gains be indexed for inflation before they are taxed.

5. Losses on the sale of one's primary residence should be written off as they would be on any other investment.

6. At the local level property taxes should be frozen and never raised for homeowners who've reached retirement age.

7. Social Security, which truly is a Ponzi Scheme, should be slowly, gradually and ever-so-gently phased out of existence -- along with most of the other toxic, Marxian frou-frou designed for the sole purpose of expanding and aggrandizing Centralized Power.

8. Savings and investment should be encouraged by declaring every single cent saved and invested to be tax-free.

9. Government is a huge, fraudulent, self-serving, out-of-control, a drag on the economy, and should somehow, be paired down to no-more-than one third its present size.

10. Except for those rare persons who are physically and mentally incapable of functioning at all, no one should receive an income from government, unless they work for it at whatever job the government provides at minimum wage no matter how menial, tedious, or unappealing the work may be.

Implementing those suggestions would give us a healthy start on a road back to sanity and prosperity.

~ FreeThinke

PS: I hope and pray SiverFiddle is right about China, though I hate for the innocent population of any society controlled by rotten leadershit to suffer any more than absolutely necessary. - FT

Ducky: Are you saying only constitutional scholars may comment on government?

I do agree with you that this did not start with Obama. The seeds of our financial destruction were sown long ago. But Obama has earned plenty of blame and racked up a historic amount of debt. He's the president now, so yeah, we're going to dump all over this economically ignorant, debt-riddled demagogue.

The Founding Fathers and those who fought in the Continental Army were our original Western Heroes, guided by the thinkers of the Enlightenment and following in the footsteps of great warriors like Jan Sobieski and Charles Martel.